Defendant Name:
Dale Swanberg
Defendant Type:
Individual
Document Reference:
comp-pr2022-150-swanberg
Document Details
Legal Case Name
SEC v. Dale Swanberg
Document Name
Complaint
Document Date
25-Aug-2022
Document Format
Civil Proceeding
Case Number
22-cv-04859
Federal District Court
California, Northern District of California
Allegation Type
Issuer Reporting and Disclosure
Document Summary
The Commission stated: "This case involves financial reporting and accounting fraud at Granite
Construction, Incorporated (“Granite”), an infrastructure-construction company based in
Watsonville, California. Granite’s largest civil engineering projects, which included the
construction of highways, bridges, and mass transit centers, were organized together in a single
group, the Heavy Civil Group, and overseen by Dale Swanberg, who served as the group leader
and senior vice president from 2017 through October 2019. In order to conceal the deteriorating performance of his group, Swanberg engaged in a fraudulent scheme to improperly defer the
recording of cost increases on his projects."
